ORLANDO, Fla. – The parent company for Universal Orlando Resort has released a report showing its theme parks continue to suffer financial losses due to the pandemic.
According to Comcast’s first quarter earnings report, theme parks revenue decreased by 33.1% to $619 million in the first quarter of 2021.
The reported loss for the theme parks division was $61 million.
“Our theme parks once again reached breakeven, excluding Universal Beijing Resort pre-opening costs; and – to the delight of our guests – we successfully re-opened Universal Studios Hollywood on April 16th,” CEO of Comcast Brian Roberts said in a news release.
Overall, Comcast reported a first-quarter profit of $3.33 billion, which exceeded Wall Street estimates.
Company leaders attributed the decline in theme park revenue to Universal Hollywood remaining closed during the first-quarter and limited capacity at parks that were open.
The report comes as Universal Orlando has been eyeing a rebound in tourism since reopening last summer.
Coronavirus restrictions have had an impact on attendance and theme park officials are looking for numbers to rise as restrictions are eventually relaxed.
“Across all parts of the company, our teams are executing at a high level and collaborating to drive growth and innovation, and I couldn’t be more excited about our future,” Roberts said.